IVISYS AB publishes interim report for the period of January to March 2017

Mon, May 15, 2017 17:20 CET

Press release IVISYS AB 556998-4981 15 May 2017

IVISYS AB (‘IVISYS’) has today published the interim report for the period January to March 2017. Below is a summary of the report.

First quarter (1 January 2017 to 31 March 2017)

– Revenue for the period was 1 052 KSEK (0).

– Operating income was -1 317 KSEK (-2 011).

– Earnings per share were -0.14 SEK (-0.23).

– The equity ratio was 89.2 % (99.6 %).

Definitions– Earnings per share: Earnings of the period divided by 7 836 535, as of 31 March 2017. – Equity ratio: Equity divided by total assets. Figures in parentheses are numbers for the corresponding quarter the previous year.

Significant events during the first quarter

- On 11 January 2017, IVISYS announced that the company had appointed a COO, a position created to strengthen IVISYS’ sales and organizational development.

- On 18 January 2017, the company announced that it received a preliminary study order from AtlasCopco, Belgium. The order has a value of less than EUR 10,000 and the study is due to take place during the first quarter of 2017.

- On 22 February, IVISYS AB announced that its subsidiary, IVISYS ApS, experienced its first profitable month in January 2017. Sales for January ended at 727,000 SEK, while the unaudited earnings amounted to an EBIT of 73,000 SEK.

- On 23 February, the company announced a market update, providing insight into the company's current situation. The number of potential projects was 53, whose total potential value is estimated to be EUR 2.7 million. The company's ambition is to present ten new project proposals to customers on a monthly basis.

- On 28 February, IVISYS announced that the company received an order for an automated solution for the classification of fur from a large fur auction house. The order is scheduled for delivery in the second quarter of 2017, and has a value of 20,000 EUR

Significant events after the end of the period

- On 27 April, IVISYS called its Annual General Meeting. The Annual General Meeting will be held on 29 May 2017. The notice is available on the company's website (www.ivisys.com).

- On 27 April, IVISYS announced that the company has received an order for an inspection system from a company that manufactures and sells food packaging. The order has a value of approximately EUR 40,000 and is expected to contribute to IVISYS’ Q2 results.

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This information is information that IVISYS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on 15 May 2017.

About IVISYS

IVISYS provides vision-based, quality inspection solutions for the industry, which can replace both manual and mechanical quality control. IVISYS’ unique, patented solutions make it possible to perform complex quality control while keeping the existing production flow unaffected. Unlike existing solutions, IVISYS provides solutions that make it possible to perform complex surface controls, control measurements on the micron level, and control multiple components in one instant process. The solutions are based on IVISYS’s patented image data processing, which differs fundamentally from the conventional processes used within vision systems today. IVISYS is capable of utilising high-resolution cameras in the company’s image processing, while at the same time processing image information faster than the company’s competitors. The solutions offered, have an average payback period of approximately six months for customers currently relying on mechanical or manual control.